Tax Law News. Crime Stories, Law on News and Legal Publications in November, 2011

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New law would revamp Illinois School Report Cards
Chicago TribuneNovember 1, 2011

Organizers held more than 60 focus groups statewide, said Robin Steans, executive director of the nonpartisan education policy group Advance Illinois and the co-chair of the committee that oversaw the redesign project. "If we do our job right," Steans ...more »

How to start preparing for your year-end tax planning
Smart Business NetworkNovember 1, 2011

The end of the year is fast approaching — which means it's time to start thinking about year-end tax planning, both for your business and personal accounts. Planning early will help ensure maximum benefits. “Many items within tax planning are time ...more »

Tax Law News and Stories

Audit Defence
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Ask the Experts: Bank has good advice for IRA beneficiary
Sacramento BeeNovember 2, 2011

This audit trail provides documentation for the IRS or other potential third-party challenges. It is important that you take this practical step to avoid any errors that could be challenged in the future. My mother had a living trust prepared in ...more »

Irs Filing & Compliance
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Understanding Which Deadlines Are Extended by the Recent IRS Guidance for ...
JD Supra (press release)November 11, 2011

The US Department of the Treasury and the IRS recently extended certain requirements applicable to hybrid pension plans. There will be a limited extension for compliance with regulations and a broader extension for plan amendments. ...more »

Business Audit Defence
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Senate votes to audit BP claims fund
Pensacola News JournalNovember 2, 2011

"You can't win on this independent audit," he told lawmakers last week. Rubio voted against the overall spending bill Tuesday because he wants to see more cuts to the $182 billion measure that funds agriculture, transportation, housing, law enforcement ...more »

Personal Irs Disputes
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Alabama lawyer's art being auctioned by IRS
WRCB-TVNovember 1, 2011

(AP) - The Internal Revenue Service says nearly 250 paintings and photographs that once belonged to Birmingham attorney Russell J. "Jack" Drake will be auctioned off Nov. 16 in Birmingham. The IRS says the artwork by Kerry James Marshall, ...more »

Property Taxes
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U46 issues call to action vs. property tax legislation
Chicago Sun-TimesNovember 3, 2011

On Thursday, Elgin School District U46 put out its own call to action on its website about another proposed law — House Bill 3793 — that would affect property taxes collected by all Illinois school districts. That bill also could come to a vote when ...more »

Corporate Income Taxes
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Abolishing a state income tax is easier said than done
Boston HeraldNovember 13, 2011

Jay Hammond signed into law a bill abolishing his state's personal income tax. In the past 31 years, no other state has taken that step. But lawmakers in Kansas, Missouri and Oklahoma are talking seriously about it. In Missouri, supporters of a ...more »

Sales Tax & Use Tax
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Tomorrow D-Day for SPLOST, ELOST Vote in Walton County
Patch.comNovember 7, 2011

Shall a special one percent sales and use tax be imposed in the special district consisting of Walton County for a period of time not to exceed 24 calendar quarters and for the raising of an estimated amount of $60000000 for the purpose of funding the ...more »

Estate Taxes & Gift Taxes
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You Can Opt to Deduct Sales Taxes
Wall Street JournalNovember 6, 2011

"If you use the tables," he adds, "you are allowed to add to the table amount any general sales taxes paid on a vehicle purchase" or on certain other items, such as a home improvement. For tips and guidance on calculating the sales-tax deduction, ...more »

Tax Evasion Defence
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Switzerland Offers US Multibillion-Dollar Settlement Over Tax Evasion Controversy
Huffington PostNovember 3, 2011

That summons was dropped only in 2010, more than a year after UBS averted indictment and reached a $780 million deferred-prosecution agreement with the Justice Department over charges it sold tax evasion services to rich Americans. ...more »

International Taxation
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H&R Block Can't Proceed With TaxAct Maker Deal, Judge Rules
BusinessWeekNovember 1, 2011

Howell granted a permanent injunction, saying the “evidence before the court, including documents and factual and expert testimony” showed the proposed purchase violated antitrust law. She ordered that her opinion remain temporarily sealed until the ...more »

Tax Planning
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Planning before voting
Cullman Times OnlineNovember 3, 2011

That's a good reason — and a wise one — for the Cullman County Board of Education to develop detailed plans of how additional tax money would be used for the county school system. The board and Superintendent Billy Coleman started moving forward with ...more »

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